Pak Wing Group (Holdings) Limited 柏榮集團(控股)有限公司

The Huarong-CMB network: 26 stocks not to own
In our first circuit diagram since the infamous Enigma Network, we examine the overlapping networks, bubbles and funding surrounding 26 HK-listed companies that your portfolio would probably do better without. (19-Oct-2018)

Huarong and the Chung Nam Network
Webb-site can reveal another SFC investigation underway involving dealings in Pak Wing (8316). The manipulation of this GEM bubble reveals another connection between China Huarong (2799) and what we call the "Chung Nam Network". The more we scrutinise Huarong, the worse it looks. Will the State end up bailing out the bailer? (3-Oct-2018)

Freeman (0279) buys 63.66m shares (7.95%) of Pak Wing (8316) on 7-Jun-2018
| CCASS changes
Disclosure of interest, 11-Jun-2018
The price of $1.25 per share is 2.5x the $0.50 at which Pak Wing's Chairman, Zhang Weijie, placed 74.52m shares via Freeman on 13-Jul-2017 which went to Win Wind Securities. After some market sales, we can see 63.66m shares remaining in WW by 3-Oct-2017, after which blocks moved from WW to Satinu Markets (and 7.452m out of CCASS) until Freeman picked them all up in this purchase. All of WW, Satinu and Freeman are in what we call the "Chung Nam Network". The foundation subcontractor had net tangible assets of just $0.002 per share at 30-Sep-2017.

Pak Wing (8316): restoration of public float
| CCASS movements
Company announcement, 13-Jul-2017
After the purchase of 600m shares (75%) at $0.50 by 27 year-old Mr Zhang Weijie and a general offer via Freeman Securities, he held 84.32%. He has now placed the 74.52m excess shares (9.32%), again via Freeman, at the same $0.50 price, a deep discount to the market price of $1.45. Our CCASS analysis shows the shares moving to the custody of Win Wind Securities Ltd. Both Freeman and Win Wind are in what we call the "Chung Nam Network". Freeman is a subsidiary of Freeman Fintech (0279) and Win Wind is a subsidiary of Enerchina (0622).

Pak Wing (8316) founders split in poll results
Company announcement, 29-Jul-2016
Chairman Wong Chin To and CEO Tse Chun Kit each have 300m shares (37.5%) of the company. Apparently one of them voted against the re-election of 2 INEDs, Wong Chi Shing and Si Tou Man Wai. Only 200 other shares voted, and they decided the outcome in favour of re-election.